Banks

The Financial Conduct Authority has today announced a series of proposals aimed at improving financial services complaints handling, including banning firms from using premium rate numbers for post-sale calls and allowing people to take their complaints to the Ombudsman at an earlier stage.

More than 40,000 borrowers are in line to receive thousands of pounds in compensation following a High Court ruling over the wording of documents sent out by failed lender Northern Rock.

The chairman of the Treasury Select Committee has written to Barclays, HSBC, Lloyds, RBS and Santander asking for more information about fraud figures after the committee heard evidence the 'banks may be understating the level of fraud in the banking system' .

The limit for transferring money by Faster Payments with your bank is £100,000, yet many banks set the limit much lower – sometimes as low as £10,000.

HSBC has set aside an additional £353 million to pay for payment protection insurance (PPI) mis-selling claims, the bank announced today.

The RBS Group is putting aside a further £100 million to cover compensation payouts for customers mis-sold payment protection insurance (PPI), it was announced today.

Barclays has set aside an extra £170 million to cover payment protection insurance (PPI) mis-selling claims, the bank has revealed in its financial figures today.

Lloyds Banking Group has put aside a further £900 million provision to cover payment protection insurance (PPI) mis-selling claims.

More than one million current accounts have been switched during the first year of the seven-day current account switching regime, with Halifax so far proving the most popular. But this is still a small number of switches compared to the millions of current account holders out there.